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B. Krishnakumar

SBI (Rs 668): The stock moved in line with expectations. It moved to the target zone of Rs 670-675 and closed on a relatively weak note on Friday. After a short-term weakness, the stock is likely to resume the earlier upward move. The immediate support for the stock is at the Rs 645-650 range. It may move to the target zone of Rs 725-730 after the expected short-term correction. Hold with a stop-loss at Rs 640 and fresh exposures may be considered on evidence of support at the Rs 645-650 range. Exposures may be enhanced on a close above Rs 686.

Reliance Ind (Rs 531): The stock managed to hold above the negative trigger level of Rs 520. It, however, did not record significant gains last week despite the overall positive market sentiment. The share has been confined to a trading range in the recent weeks. A close below Rs 520 would impart bearish trend that could push the stock to the Rs 495-500 range. A close above Rs 540 would impart strength and the stock could move to the Rs 575-580 range. Remain invested with a stop-loss at Rs 520.

Tata Steel (Rs 362.6): There is no change in the view expressed last week. The near-term trend is positive and a move to the resistance level at the Rs 379-382 range is likely. If the stock fails to move past this range, the stock could turn weak and drop to the Rs 340-345 range. Remain invested with a stop-loss at Rs 348. Use price rally to the Rs 379-382 range to liquidate. Fresh buying may be avoided while short positions may be considered on the evidence of resistance around the Rs 379-382 band.

Satyam Computer (Rs 457.4): The stock moved in line with expectations. It managed to move to the target zone of Rs 458-460. The near-term trend remains bullish and a move to the Rs 478-482 range appears likely. Hold with a stop-loss at Rs 423. Fresh long positions may be avoided while shareholders may consider partial profit booking if the stock faces resistance at the Rs 478-482 range. A close below Rs 423 would negate the positive outlook while a close below Rs 420 would impart a bearish trend.

Infosys (Rs 2231.8): The recent price action has almost negated the looming threat of a possible "head and shoulder" pattern. The close above the resistance level at Rs 2230 along with the overall price pattern suggests that the stock has significant upside potential. It could move to the Rs 2310-2320 range in the near term. Partial profit booking at this range, and fresh exposures on price weakness may be considered.

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Indian Card Clothing (Rs 243.3): The stock ruled weak in the first four trading sessions and staged a recovery on Friday. The earlier bullish view remains. The stock appears to move to the target zone of Rs 275-280.

Investors may hold with a stop-loss at Rs 210. Fresh exposures may be considered on a move past Rs 254, with a stop-loss at Rs 220. A close below Rs 210 would negate the positive outlook and would warrant dilution.

Gammon India (Rs 294.5): Contrary to expectations, a bearish trend prevailed last week. This has not negated the earlier bullish view on the stock. The recent sideways price action appears to be a consolidation and it may start the next leg of the upward move shortly.

It appears to be on course to touch the Rs 360-370 range. Long-term investors may accumulate on declines. Fresh exposures may also be considered on a close above Rs 310, with a stop-loss at Rs 274. A drop below this level would negate the positive outlook while a close below Rs 255 would impart a bearish trend.

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